The CFPB is requiring that the owner’s policy be disclosed as “optional” due to the fact that unlike the lender’s policy which is required by most institutional lenders in the country, an owner’s title insurance policy is not a transactional requirement nationwide. This new descriptor was...
Pango Group, CV Escrow's parent company, has successfully completed a Statement on Standards for Attestation Engagement No. 16 (SSAE 16) SOC 1 & SOC 2 Type II audit. With the ever-evolving regulations mandated by the Consumer Financial Protection Bureau (CFPB), Pango Group is proud to be...
During this time of Thanksgiving, all of us at CV Escrow would like to express our sincere appreciation for our readers! Thank you for taking the time to read our blog and the wonderful feedback you provide. From our family to yours, we wish you...
You’ve heard about the drought for years. You’ve seen the “Water Wise” commercials on television and the electronic billboards on the freeway that read: “Drought. Save Water!” But, when the water companies start to fine you for inefficient or even wasteful water usage, that’s when...
Refer to this chart to find out if the property you are selling or listing is part of the Lennar Charitable Housing Foundation. If it is, the property is part of the imposed endowment fee agreement. This requires 0.05% of the gross sales price of...
As industry leaders in compliance and security, we’ve gone to great lengths to become a trusted escrow company with our SSAE 16 SOC 1 and SOC 2 Type 1 audit. We are designed to comply with industry best practices, and as the first independent escrow...
In these past tumultuous years, the Consumer Finance Protection Bureau (CFPB) rocked the mortgage world with new regulations, stringent enforcement and stiff penalties for non-compliance. It also provided a virtual whipping post via an online portal where disgruntled consumers could vent their complaints but not...
Starting October 3rd, there will be a new Closing Disclosure form, which will replace the Truth-in-Lending Act (TILA) disclosure and the HUD-1. Here's an example of what the last 17 days of your closing might look like after October 3rd. Please email us for more...
Pango Group, CV Escrow's parent company, has successfully completed a Statement on Standards for Attestation Engagement No. 16 (SSAE 16) SOC 1 & SOC 2 Type I audit. The SOC 1 report audits the controls relevant to a service organization’s financial reporting systems. A SOC 1...